v3.26.1
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Summary of Financial Instruments Carried at Fair Value on Recurring Basis

The following tables present the financial instruments carried at fair value on a recurring basis as of June 30, 2026 and December 31, 2025, respectively, in accordance with the ASC 820, Fair Value Measurement (ASC 820) hierarchy (in thousands):

 

 

 

Fair Value Measurements at June 30, 2026

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents

 

$

10,383

 

 

$

 

 

$

 

 

$

10,383

 

Marketable securities

 

$

 

 

$

1,008,642

 

 

$

 

 

$

1,008,642

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements at December 31, 2025

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents

 

$

16,639

 

 

$

10,056

 

 

$

 

 

$

26,695

 

Marketable securities

 

$

 

 

$

709,665

 

 

$

 

 

$

709,665